Legal framework for ICO has been created in France.


The French Parliament approved at the legislative level the rules for holding initial coin offerings (ICO), Bruno Le Maire, Minister of Finance of the country stated in his Twitter.

“Legislative base for ICO is created. It will help attract innovators from all over the world”, – he wrote.

According to the document, to hold the ICO in France, the company must obtain permission from the French Financial Merkets Authority (AMF).

Token issuers at the request of AMF provide all the necessary information that will ensure that customers are aware of the decisions of the crowdsale organizers. Particular attention will be paid to the criteria for investor protection.

It should be noted that the adopted normative legal act is part of the broader program of Emmanuel Macron, President of France, to stimulate growth and business transformation.

Back in January, Bruno Le Maire announced the creation of workgroup to develop mechanisms for cryptocurrencies regulation.

It was headed by the former representative of the Bank of France, Jean-Pierre Landau.

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